Initial Estimates of the Probabilities of Events Are Known as

question 14

Multiple Choice

Initial estimates of the probabilities of events are known as

• A)sets
• B)posterior probabilities
• C)conditional probabilities
• D)prior probabilities

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Definitions:

Minor Children

Individuals under the age of legal adulthood, whose rights and responsibilities are significantly different from those of adults.

Legally Binding Contract

An agreement between parties that is enforceable by law.

Acceptance

The act of agreeing to the terms of an offer, contract, or proposal, thereby creating a binding agreement.

Capacity

The legal ability to enter into a binding contract.